Best Practices in Interactive Marketing Building an Integrated Marketing Approach with the End in Mind Brad GibbsChief Growth OfficerPlattForm Higher Education Marcelo Parravicini Chief Marketing Officer Post University
How to get from here… Traditional Media Interactive
Advantages of Integrating Your Online and Offline Marketing More than 50% of Post University enrollments come from inquiries directly attributable to online sources Jupiter Research indicates that nearly 70% of consumers report searching for the company name, product or service, or advertising slogan that they saw in offline marketing Integrated marketing consumer behavior Awareness Search behavior Goal Oriented / call-to-action Content/ Information acquisition Enrollment Repeat visit (remarketing) Word of mouth (social networking/referrals)
Start with the End in Mind What are your enrollment goals?
What is your marketing budget? How many admissions reps do you have? How many inquiries are optimal for an admissions rep to work? What is your competition doing? How many competitors do you have in your market? How much are they spending? What is your unique selling point, message, and brand?
The Facts - Interactive Campus Online Average cost-per-lead for CPL programs? Average cost-per-lead for PPC programs? Average conversion from L-E for CPL programs? Average conversion from L-E for PPC programs? Average conversion from L-E for website leads? Average cost-per-lead from banners? $45 $60 $110 $125 3% 1.5% 7% 4% 12% 8% . *These are for undergraduate programs
First Thoughts These guys don’t know what they are talking about …wait maybe they do? My boss is going to fire me if I show him this! What should you be thinking? Where do my other 22 enrollments come from? What if I improved conversions by as little as 1%? You over sit your starts because you just enrolled 107 new students. You lowered your CPE from $2,538 to $1,850. You keep your job, get a promotion and a raise. *And you are so excited you buy Marcelo and Brad a new car
Funnel Management Integrated Campaign The bulk of all inquiries will be received electronically Depending on the marketing channel, there are a number of metrics that must be monitored For the purpose of measuring education inquiry conversion, the most critical metrics are: Cost-per-lead Cost-per-enrollment Reach Inquiry-to-start conversion Impressions conversion rate Visitors Inquiries Applications New enrolled students
Predictable ROI – Marketing and Sales Must Be Integrated
Interactive Marketing Options: Paid Search (PPC) Integrated Campaign PPC is an effective way to gain share-of-voice when organic rankings are not present Effectiveness of campaign is dependant on targeted search phrases Broad search phrase results in high impressions, low number of clicks, and non-targeted click-throughs Targeted landing pages are critical to visitor-to-inquiry conversion Ad copy sets the visitor’s expectations Each targeted search phrase must be considered in terms of landing page content Both SEO and PPC listings for the same search phrase increases overall click-through rates
Aggregators are an effective way to maximize share-of-voice and an affordable source of targeted inquiries
CPI ranges from $35 to $120, depending on factors such as how the inquiry is transferred to an admissions center, or the degree program being promoted (e.g. undergrad vs. grad)
While CPI is, and should be an initial point of cost-to-market reference, overall conversion and cost-per-enrollment should be the key metrics used to measured ROI
For example, inquiries at a high CPI that convert higher than average are more desirable than low CPL inquiries that hardly convert…more is not always better!
Depending on a number of variables, aggregator inquiries convert anywhere from 1% to 4%
Industry Marketing Trends Increasing marketing and sales costs Aggregator’s organic traffic is being affected by Google’s algorithm resulting in CPL increases and lower conversions Aggregators seeking to make up organic inquiry flow are aggressively pursuing increases in paid search traffic, resulting in CPC increases Ongoing shift to awareness-based advertising strategies Challenge: Cannot generate large volume of inquiries, but significantly increases conversion over time Schools adjust marketing funnels targeting higher-quality programs that have better graduation / placement rates
Tracking Media Traditional media (e.g., broadcast & print) can be an important component of an integrated interactive marketing plan Effective call-to-actions can drive highly targeted traffic to a specific, unique URL, or to call a unique 800 number Challenge: Are you reaching the right demographic? Awareness campaigns are effective at increasing both paid search and organic traffic Brand awareness is likely to drive traffic away from the intended action Challenge: It is not always possible to track all traffic to a specific buy
Integrated Approach 73 inquiries interacted with a different source prior to becoming an inquiry! "Right now, most marketers have one agency for TV, and a different agency for online searches. They should seriously consider integrating those two functions," said Wilbur. "In elasticity terms, the effect of TV advertising on consumers' choice of branded keywords is about as large as its effect on sales." http://www.youtube.com/watch?v=zQaIa274DWU
Conversational Marketing:Who’s Driving the Conversation? Social media has become an important source of peer-to-peer feedback about products and services Opens communications with both current and prospective students Challenge: negative postings! There is such thing as disgruntled students Opportunity: address problems and concerns as they arise, resulting in an improved brand image Students looking for information are more likely to post a question on a social network than to call the university directly No room for big brother here! Student participation decreases when monitoring is perceived, however, it is at times expected To effectively integrate social media as part of a conversational marketing strategy, institutions must: Ignite and engage in conversations Offer customer service via social media Provide a platform for conversations? Blogs!
The End in Mind http://www.youtube.com/watch?v=Ru8NqeKYABE&feature=fvst Students are enrolling students
Questions? Contact us at: Brad Gibbs email@example.com Marcelo Parravicinimparravicini@post.edu